El Al buys 4 Boeing 737s

The new planes will replace Boeing 757s on short and medium-haul routes within five hours flying time from Ben Gurion Airport.

El Al Israel Airlines Ltd. (TASE: ELAL) is preparing for increased passenger traffic on its routes with a big purchase under the controls of CEO Eliezer Shkedi. El Al has bought four Boeing 737-900 ER (extended range) passenger jets from Boeing Company (NYSE: BA), and has an option to buy two more, for $215-320 million (depending on whether four or six planes are actually purchased).

The Boeing 737-900s will replace the Boeing 757s that El Al uses on its short and medium-haul routes to Europe. The new planes will have a range to commercial destinations within five hours flying time from Ben Gurion Airport.

The planes are scheduled to enter service in 2013. El Al says that they will boost its economy and business class passenger capacity. The airline adds that the new planes will lower its operating costs compared with other planes now in service. El Al currently operates 14 Boeing 737s of various models.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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